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Arrowpoint Advisory's Healthcare sector team has advised Inflexion Private Equity on its minority investment in European LifeCare Group (‘ELCG’), Europe's largest provider of vaccinations. The investment is being made by Inflexion Enterprise Fund IV, Inflexion's dedicated lower mid-market fund.
Founded in 1998, today ELCG has over 50 specialist clinics across Denmark and the UK where the company trades under a number of brands, including London Travel Clinic. ELCG also works for both the Danish and English NHS as a contracted service provider of immunisation programmes in schools and national influenza vaccination programmes. In 2018, ELCG is forecast to vaccinate approximately 400,000 individuals on behalf of the NHS in Denmark and the UK.
The travel vaccination markets in Denmark and the UK are estimated to be worth c.270 million and are growing at around 7% per annum as global travel increases. ELCG's management team are looking to capitalise on this growing market by doubling their number of clinics over the coming years drawing upon Inflexion's funding and buy-and-build experience.
Simon Turner, Managing Partner of Inflexion, commented: “ELCG is a market leading business in a rapidly growing, niche market. The team have strong experience in building their business both through acquisitions and opening new clinics. They are the leading consolidators in a fragmented European market which also has scope to benefit from additional clinic openings. We look forward to working with them to accelerate ELCG's already impressive growth.”
ELCG is led by CEO and Co-Founder Karsten Østergaard and CFO Kristian Tuft, supported by a strong management team who have been working together for over 10 years.
Karsten Østergaard added: “We are proud of the company we have built and now see a tremendous opportunity to accelerate our UK growth where we see the potential for over 100 of our vaccination clinics. Inflexion's strong track record in sourcing and integrating add-on acquisitions makes them an excellent partner for us as we embark on this next phase of our journey.”
Ben Long, Investment Director at Inflexion, commented: “We have worked with Arrowpoint Advisory on a number of buy-side opportunities and we knew from experience that they would demonstrate dedication and add value throughout the process, they didn’t disappoint.”
Karen Dawaf, Director at Arrowpoint Advisory, concluded: “The Arrowpoint Advisory teams in London and Stockholm are delighted to have supported Inflexion with making another investment in an entrepreneurial, high growth business. The European vaccinations sector is growing rapidly and ELCG has developed the market-leading business supporting the travel and public health markets.”